ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS FOR THE YEAR ENOED 31, DECEMBER 2023
Company Reg15tratlon Number- 3892644
Charlty Re8lStratlon Number- 1079138

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
Company Registration Number- 3892644
Charity Registratlon Number- 1079138
FINANCIALSTATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
COFfl'ENTS PAGE
PAGE
Company Information
Trusteè6 and Dlrectors Raport
2to5
Auditor'g Report
6tog
statement of Financial Activitles
io
Balance Sheet
li
Notes to the Financlal Statements
12to19

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
Company Registration Number- 3892644
Charity Registratlon Number- 1079138
COMPANY INFORMATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
REGISTERED OFFJCE
St Stephen's Church
Gloucester Road
Southw¢ll Gardens
London. SW7 4RL
TRUSTEES AND DIRECTORS Roger Martin Howell Preece
James Edward Day
Scott Bundy - ( Resigncd 121
12023 )
Zarina Membcry - ( Appointcd 121
12023)
James Fox (appointed Ilth January 2024)
SF.CRETARY
Roger Martin Howell Preece
GENERAL MANAGER
Mark Hodgin
BANKERS
CAF BANK LIMITED
25, Kings Hill Avenue
Kings Hill
West Mailing
KENT MEI 9 4JQ
Kojo & Co
Chartered Certified Accountants
118-120, London Road
Mitcham
Surrey. CR4 3LB
ACCOUNTANTS
AUDITORS
Adomako Basoah & Co.
Chartered Certified Accountants
Registcrcd Auditors
45. Tindale Close
South Croydon
Surrey. CR2 ORT
page I

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD ) LIMITED
Directors and Trustees, Annual Report for the year ended 31st December 2023
Company Re8lStration Number - 3892644
Charity Registration Number - 1079138
The Trustees who are also the Directors of the charity presenl their annual report together with the
audited financial $lalem8nts for tha year ended 31, December 2023
BASIS OF ACCOUNTS PREPARATION
The financial statement have been prepared under the historlc c05t conventlon wlth items
recognised at cost or transaction value unle55 Otherwise stated in the relevant rules to these
accounts. The financlal statements have bgen prepared in accordance with the Statement of
Recommended Prath'c8 .' Accounting and Reporting by Charities, and the Financial Reporting
Standard applicable in the Unlled Kingdom and Republic of Ireland ( FRS 102) and the
Companies Act 2006, s￿ond Edition, effective from 1. January 2019.
The financial statements have been prepared In accordance with the accounting
policies set out in Note 2 to these accounts, and in accordance with the governing
document of the Company
GOVERNING DoèuMENT AND OBJECTIVE
The Bovernln8 document of the Charltable company is Its Memorandum and Articles of Association.
The purpose of the Charitable company is to support the work of St stephen's church at Gloucester
Road. London SW7 4RL. The svpport includes provision of a church hall a5 well as wider financial
Support. The Charltable company works closely with the vicar and parochial church council to
achieve its objectives. In strlving to achieve its objective5, the Trustees always glve careful
consideration to the Charity Comm155ion's 8eneral 8uidance on public beneflt.
The trustees confirm that the Charltable cornpany Is a public beneflt entity as deflned by FRS 102.
FUNCTIONS OF THE CHARITY
The main functlon of the charilable company is to provide a thurch hall and also make ￿gUlar and
ad hoc grants at the dlscretion of the Board to St. Steph8n's Church, Gloucester Road, London
SW7 4RL.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charltabae company is managed and governed through rt8 Board of Directors of whom a￿ Trustees
of the charitable company. The Board meets a minirnum of three times a year, including on8 meeb'ng lo
appoint its chalrman and Directors. Much of the day lo day adminislration and book-keeping functlons of
the Charita￿8 company a￿ delegated lo thlrd party providers, as required. The Charilabl8 company
itsew has no employees. The Dir8Gtors who are also Trustees receive no salary nor any olher fees or
remuneration for their work.
TRUSTEES
The Trustees of the Charity are elected at the Annual General Meetin& and each Trustee retire5
fter a term usually no longer than three year5 after which they may stand for re-election if they
W15h to continue to serve. The board attempts to have a broad base ofexperience and diver5itv
appropriate to a charily of It5 size and fijnction,. and it has an open and inclusive recruitment policy.
page 2

ST. STEPHEN'S HOUSE ( GIOUCESTER ROAD I LIMITED
Directors and Tru5tees' Annual Report for the year ended 31st December 2023
I Conti nued I
Company Registration Number- 3892644
Charity Registration Number- 1079138
The currentTrustees and those who served during the year are".
Roger Martin Howell Preece
James Edward Dav
Zarina Membery lappointed 12th June 20231
Scott Bundy (resigned 12th June 20231
Jame5 Fox lappointed Ilth January 20241
REVIEW OF ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR
Thè Charllable company made grants dijring the year of £196,746 which represented a decrease of
£228,700 compared to the pravious financial year's total of £425,446. Oul of the £196,746, £100,000
was "support granl" 8nd the balance of £96,746 was development grant.
Previously the Company has helped to facilitate a new programmo of major refurbishment and
development al the church, including a new lighting and sound system, and during the currént year
has provided further slgnlflcant support here lo allow complellon of the recent project, worklng
closely wllh the Vicar and the Parochial Church Council.
The support Grant has allowed the church to expand its own charitable purposes and role
in the locallly.
MAIN GOALS FOR THE COMING YEAR
st. stephen's Church has lusl completed the first phase of prt)gramme of major d8velopment, which
overall Is sche(luled to last a good number of years. The Company 15 committed lo providing resources
and assistance here in addition io other aclivilles already supported. subject to 8vailabllity of funds.
The Iruslees are aware Ihal there will be further work ( notably on some of the Church fabrlc I that
will require further support over the coming years.
FINANCIAL REVIEW
The Charitable company made a net deficit of £1,163 12022- £218,174> before net investment
revaluation gain of £98,76412022 -deficit £79,320), In the year under consideration
The balance on the unrestricted funds at 31 December 2023 was £5,659,739 (2022 - £5,562,138) This
indudes the value of ihe Flxed Assets Investment of £5,484,759 { 2022 - £5,385,994) thereby leaving a
nel liquid balan￿ of £174,980 12022 - £176,144) for the general running of the Charity.
The Board considèrs thls is adequate to fulfil the charltable company's objectiv6s.
INVESTMENT POLICY
It is th8 policy of the Charitable company to consider the suilabillty of all ils inveslments in terms of
soclal, ethical. and 8nvironmenlal irnpact, and always strives lo adhe￿ to standards of best practice in
these areas.
page 3

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
Directors and Trustees, Annual Report for the year ended 31st December 2023
I Continued )
Compar)y Registration Number - 3892644
Charity Registration Number- 1079138
Re8eNe PollGy
The Trustees endeavouf to maintain SLAfficient Reservés to ensure that the Charitable company is
on a 'goin8 concern" basis at all times.
The Charity's General Fund (Unrestricted fundl balance at the end of the year was £5,659,739
12022 - £5,562, 1381 The value of the Charity's fixed assets I both ta ngible fixed assets and
fixed assets investments) included in the general fund figure of £5,659,739 is £5,484,759, thereby
leaving a net liquid balance of £174,980 for the 8eneral running of the companv.
Our reserve5 policy is to ensure available sufficient resources to provide a sustainable platform
for future charitable grants over the longer term. as well as malntain its physical assets
in good condition over the longer term.
The Board is aware that appllcatlon for grants may vary from year to year, and
is mSndful of the need to provide a secure and conslstent approach over the longer term. This
may entail runnin8 either a deficit or surplu5 in any one particular financ5al period, as necessary.
Golng Concern includlng the Impact of Covld-19
We consider that we have adequate financial reserves to contlnue to deliver our plans, and that
we have reasonable expectation that we will have adequate resources to continue In operational
existence for the foreseeable future and that there are no material uncertainties that call into
doubt the cliarity's abllity to continue,
The Effpct of COVIO-19 pandemlc has been Ilmlted due to the lactthat mucfv of the adminislratlon
ol Ihe Cttarlty, Including banklng, cèn be pprfL)rmed remotely. The Charltys Income and revenue has not
been adversely affected by the pandemic (iuring the last twolve months.
We have concluded that the golng concern basls remalns an appropriate basls of preparation for
these financial Statements.
Rlsk Assessment
The charlty has a risk reglster. where major potential risk factors are identified, quantif led and
assessed, Mitigation factors are also considered. The Board regularly reviews this register
to ensure it is kept up to date and relevant, Action is taken appropriately a5 a result of anv
perceived weakness , All bank transfers require a minimum of two authorlsation, and no cash
is typically ever physically held.
Statement of Tru5tee5' Responsibilitles.
The Trustees are responsible for preparing the Trustees, report and account5 in accordance with
applicable law and United Kingdom Accountlng Standards (United Kingdom Generally Accepted
Accounting Practice).
The law applicable to charities in England and Wales requires the fru5tees to prepare
account5 for each Financiol year which gives a true and fair view of the state of affairs of the Charity
and of the incomlng resources and application of resources of the Charity for that year.
In preparin8 these accounts, the Trustee5 are required to-
select suitable accountin8 policies and then apply them con515tently.
observe the methods and principles in the Charities SORP.
page 4

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
Directors and Trustees, Annual Report for the year ended 31st December 2023
{ Continued }
Company Registration Number- 3892644
Charity Registration Number- 1079138
make judgements and estlmates that are reasonable and prudent.
state whether applicable accounting standards have been followed. subject to any
material departures disclosed and explained In the account5; and
Prepare the accounts on a Eoing Goncern basis unless it Is inappropriate to presume that the
charity will continue in operation.
The Trustees are responsible for keeping sufficient ocrounting records that disclose, with
reasonable accuracy at any tirne, the financial position of the Charity and that enables them to
ensure that the attounts comply with the Charities Act of 2011. the appropriate Charity Accounts
and Reports Regulations and the provisions of the goveming document. They are also responsible
for safeguarding the assets of the Charity and hence for takin8 reasonable steps for the
prevention and detection of fraud and other irrÈgtslarities.
So far as the individual trustees, and all the trustees as a body are aware, there is no relevant
information that the.v ought to have disclosed to the Charity Auditors that they have not done
and they further believe that all steps have been taken that ought to have been taken to make
the Auditors aware of any such relevant information.
Post Balance Sheet Events
The Trustees and Directors are not aware of any post balance sheet events which could materially
ffect these financial statements.
This report has been prepared in accordance wlth the provlslons applicable to companles
entitled to the Small companies exemptions
Approval
This report was approved by the Charity Trustees and Directors on
and signed on their behalf by
2024
JAMfs EDWAR
Director and Trustee
page 5

INOEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. STEPHEN'S HOUSE
{ GLOUCESTER ROAD I LIMITED
REPORT ON THE FlhlANCIAL STATEMENTS
UNQUALIFIED OPINION
We have audlted the financial statements of St. Stephen's House l Gloucester Road l Limited
the "charitable company I I for the year ended 31, December 2023, which comprise of the
Statement of Financial Activities, the Balance Sheet, and notes to the financial statements,
including a summary of significant accountlng policies.
The financlal reporting framework that has been applied in their preparation is applicable Law
and United Kingdom Accounting Standards, including Financial Reporting Standard 102. "The
Finuncial Reporting Stondard opplicable in the United Kingdom und the Republic of Ireland"
l United Kingdom Generally Accepted Accounting Practice)
In our opinion, except for the matter described in the basis for our opinion sectlon, the financial
statements .
give a true and fair vlew of the state of the charitable company's affair5 35 at
31, December 2023 and of its incoming resources and application of resources,
including its income and expenditure, for the year then ended,.
have been properly prepared in accordance with United Kin8dom Generally
Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies
Act 2006.
BASIS FOR OPINION
EMPHASIS OF MATTER
The Investment property of the charitable company was professionally revalued at £4,600,000 by
AMJ Wlmbleton IFRICS l of Aspect Surveyors Limited on 26, May 2020 on a fair value basis.
However, due to the unknown future impact that Covid-19 might have on the real estate market,
the valuation wa's reported on the basis of "mat"erial valuation uncertainty" in line with RICS
guldance.
We conducted our audit In accordance with International Standards on Auditing l UK I IISAS IUKI
and applicable law. Our responslbilitios under those standards are further described in the
Auditor's responsibilities forf the audit of the financlal statements section of our report. We are
Independent of the Charitable company In accordance with the ethical requirements that are
relevant to our audit of the financial staternents In the UK, Sncludlng the FRC'5 Ethical Standard,
and we have fulfilled our other ethical responsibilitles in accordance wlth these requirements. We
believe that the audlt evidence we have obtained is sufficient and approprlate to provide a basis
for our unqualified opinion,
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustees, use of the going concern
basls of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertaintie5 relating
to events or conditions that, indlvidually or collectively, may cast 518nificant doubt on the entity's
ability to continue as a going concern for the period of at least twelve months from when the
financial statements are authorised for i55ue.
Our responsibilitie5 and the responsibilitles of the trustees with respect to going concern are
described in the relevant Sections of th15 report.
page 6

INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF ST. STEPHEN'S HOUSE
{ GIOUCESTER ROAD I LIMITED
I conlinued I
OTHER INFORMATION
The other informatlDn comprises the information Included in the annual report other than the
financial statements and our auditor'5 report thereon.
The trustees are responsible for the other information contained within the annual report.
OLAr opinion oh the financial statements does. not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and, in doing so,
consider whether the other information 15 materially inconsistent with the financial statements
or our knowledge obtained in the course of the audit or otherwise appear5 to be materially
mls5tated. If we identify such material inconsistencies or apparent material mi5Statement5, we
are required to determine whether thi5 gives rise to a material misstatement in the financial
statement5 them5elve5. If, based on the work we have performed, we conclude that there is
material misstaternent of this Other information, we are required to report that fact.
We have nothing to report in this regard.
OPINIONS ON OTHER MArrERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion , based on the work undertaken in the course of the audit
> the Information given In the trustees, report, which Includes the directors, report prepared
for company law purposes, for the financial year for which the financial statements are prepared
is consistent with the financial statement5,' and
> tlie directors, report included within the trustees, report has been prepared in accordance
wlth applicable legal requirements.
MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the Ilght of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material rn isstatements in the Trustees,
Report.
We have nothing to report in respect of the followlnB matters in relation to which the Companies
Act 21)J6 requires us to report to you if, in OUT opinion .
> adequate accountin8 records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us , or
> the financial staternent5 are not In agreement with the accountin8 records and returns; or
.> certain disclosures of trustees, remuneration specified by law are not made,. or
> We have not received all the Information and explanations we required for our audlt,. or
> the trustees were not entitled to take advantage of the small companies, exemptions in
preparing the tru5tees' report and from the requirement to prepare a strategic report.
RESPONSIBILITIES OF THE TRUSTEES FOR THE FINANCIAL STATEMENTS.
As explalned more fully in the Trustees, Responsibilities Statement set out on page 4, the
Trustees I who are also the directors of the charitable company for the purposes af Company Law I
are responsible for the preparation of the financial statement5 a nd for being satisfied
that they give a true a nd fa ir view, and for such internal control a5 the trustees determine Is
necessary to ena ble the preparation of the financial statements that are free from material
mi55tatement, whether due to fraud or error.
page 7

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST. STEPHEN'S HOUSE
{ GLOUCESTER ROAD ) LIMITEO
I continued I
In preparing the financial Statements, the trustee5 are responsible for as5e55ing the Charitable
cornpany'5 ability to continue a5 a 80ing concern, disclosing, as applicable, fnatters related to going
concern and using the going concern basis of accounting unless the trustees either intend to
liquidate the Charitable company or to cease operations, or have no realistic alternative but to
do 50.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS.
Our objectives are to obtain reasonable assurance about whether the fi'nancial Statements as a
whole are free from material misstatement, whether due to fraud or error, and to 155ue an
auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with ISAS l UK I will always detect a
material mi55tatement when it exists. Mlsstatement can arise from fraud or error and are
considered material if, individually or in aggregate. they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detectlng Irregularities, including fraud is
detailed below:
Discussions were held with, and enqulrles made of, mana8ement and those charged with
governance with a view to Identifying those laws and regulations that could be expected to have
material impact on the flnancial statements. During the engagement team briefing, the
outcomes of these discussions and enquiries were shared with the team, as well as conslderation
as to where and how fraud may occur in the entity.
The following laws and regulations were Identified as being of significant to the charitable
COTnpany-.
> Those laws and re8ulation5 considered to have a direct effect on the financial
statements Includin8 UK financial reportlng standard5, Company Law, Tax and penslons
legislation.
> It is considered that there are no laws and regulations for which non-compliance May
be fundamental to the operatin8 aspects of the business.
Audit procedures undertaken in response to the potential risks relatlng to Irregularities I which
include fraud and non-compliance with laws and regulations) Lomprised of .' enquirie5 of
management and those charged with governance as to whether the charitable company complies
with such laws and regulations,. enquiries with the same concernin8 any actual or potent5al
litigation or clalms; inspectlon of relevant le8al correspondence,. review of board meetin8
minutes; testing the approprlateness of entries in the nominal ledger, including journal entrie5'
reviewing transactions around the end of the reportln8 period, and performance of analytlcal
procedures to identify unexpected movements in account balances whlch may be indicative
of fraud,
No instances of material non-compliance were identified. However the likelihood of detecting
irregularities, including fraud, is limlted by the inherent difficulty in detecting irregularities, the
effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures
performed. Irregularities that result from fraud might be inherently more difficult to detect than
irregularities that result from error. As explained above, there is an unavoidable risk that material
misstatements may not be detected. even though the audit has been planned and performed in
accordance with ISAS (UK I.
A further description of our responsibilities is located on the Financial Reporting Council's
website at :https', /lwww.frc.org.uk/auditorresponsibilitie5.
This description form5 part of our Auditor'5 report.
Page 8

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST. STEPHEN'5 HOUSE
( GLOUCESTER ROAD ) LIMITED
I continued )
USE OF OUR REPORT
This report is made solely to the Charitsble company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companie5 Act 2006.
Ouraudit work has been undertaken so that we might state to the Charitable tompany's rnembers
those matters we aré required to state to them in an Auditor's report and for no other purpose.
To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other
than the eharltable company and the charitable company'5 members as a body, for our audit work,
for this report, or for the opinions we have formed.
//
. 2024
Cha
e5 Adomako Basoah
Senior Statutory Auditor
45, findale Close
Sanderstead
South Croydon
Surrey. CR2 ORT
For and on behalf of Adomako 8a$oah & Co.
Statutory Auditors
Page 9

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE
ACCOUNT FOR THE YEAR ENDED 31, DECEMBER 2023
Company Registration number - 3892644
Note
2023
Unrestricted
2022
Unrestricted
INCOME
Investment Income
245,339
245,323
Other Income
TOTAL INCOME
331538
308 781
EXPENDITURE
Expenditure on Raising Funds
Expenditure on Charitable Actlvities
116,955
215 746
332 701
82,754
444 201
526 955
.4.2.3
TOTAL RESOURCES USED
11,163)
(218,1741
NET INCOME FOR THE YEAR Before Investment
Revaluation Gain
Net Investment Revaluation l Deficit)/ Gain
97,601
(297,494)
NET INCOME
RECONCIUATION OF FUNDS:
BALANCE BROUGHT FORWARD
5 562 138
5 8S9 632
BALANCE CARRIED FORWARD
5 659 739
5 562 138
There are no further recognised galns other than the Surplus for the above financial year.
The notes to the financial statements form an integral part of these financial statements.
page 10

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
BALANCE SHEET AS AT 31, DECEMBER 2023
Note
FIXED ASSETS
2,023
2022
unrestricted
unrestricted
Investments
5,484,759
5,385,994
Total Flxed Assets
CURRENT ASSETS
5,484,759
5,385.994
Debtors
Bank and cash balances
34.633
161086
26,270
175 360
195.719
201.630
CREDITORS: Amounts falling
duo wlthln one year
10
TOTAL NET CURRENT ASSETS
17
TOTAL ASSETS LESS cuRRE￿r
LIABILITIES AND TOTAL ASSETS
5 659 739
5 562 138
FUNDS
Unrestricted Funds AND Tolal Funds
5 582 138
The notes to the financi81 slatements form an Integrel part of Ihese financlal stat8m8nts
Approved by the Directors and Truste88 on
and signed on th
ehalf by
2024
JAMES EDWARD DA
Director / Trustee
Director / Trustee
Company Reglstration nurnber- 3892644
The Company is a private company limited by gurantee, registered in En8land and Wales,
page 11

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
1. BASIS OF ACCOUNTING
1.1 The financial statement have been prepared under the historic cost convention with
items recognised at cost or transaction value unless othe￿iSe stated in the relevant
notes to these accounts. The financlal statements have been prepared in accordan￿ with
the Slatement of Recomfflended Practice .' Accounting and Rewrting by Charities. and the
Financial Reporting Standard applicable in the United Kingdom 8nd Republic of Ireland
(FRS 1021 and the Companies Acl 2006, Second Edition, effective from 1, January 2019.
The financial statements have been prepared in accordance with the accounting
policies set out in Note 2 to these account5, and in accordance with the goverr)ing
document of the Company
1.2 The Company constitutes a public benefit entity as defined by FRS 102
1.3 No changes to accounting estimates have occurred in the reporting period.
2. ACCOUNTING POLICIES.
INCOMING RESOURCES
2.1 Recosnition of Income
Income are recognised and included In the Statement of Financial Activities I SOFA )
when:
> The Company becomes entitled to the resources,,
It is more likely than not that the trustees will receive the resource ,' and
> The monetary value can be measured with sufficient reliability.
2.1.1 Rent
Rent from the Company's investrnent property 15 recogni5ed in the SOFA
on the basis of the rent veceivable as per the rental agreement.
2.1.Z Service Charge Income
Service Charge income Is reco8rii5ed in the SOFA when the service char8e
accounts which form the basis of the service char8e income have been certified
and approved by the Dlrectors/Trustees.
2.2 Offsettlng
There has been no off5ettin8 of assets and liabllltles, or income and expenses,
unless required or permltted-by the FRS 102 SORP or FRS 102
2.3 Grants and Donatlons
Grant5 and Donations are only included in the SOFA when the general income
reco8nition criteria as stated above are met,
2.4 Volunteer Help
The value of any,.voluntary hqlp: received 15 not included In the accounts.
2.5 Settlement of Insurance Clalms
Insurance claim5 are only included in the SOFA when the general income
recognition criteria are met, and are included a5 an item of other income in
the SOFA.
2.6 Income from Interest, Royaltles and Dlvldends
This is included in the accounts when receipt Is probable and the amount
recelvable can be measured reliably.
2.7 Investrnent gains and1055e5
Thi5 includes any realised or unrealised gains or losses on the Sale of
investments and any 8aln or Ios5 resulting from revaluing investments to
market value at the end of the financial year.
page 12

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
( continued I
APPLICATION OF RESOURCES.
2.8 Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal
or Constructive obligation committing the Company to pay out resources and
the amount of the obligalion can be measured with reasonable certainty.
2.9 Grants Payable.
Grant5 and donations are accounted for when paid.
FIXED ASSETS.
2.10 Lon8 Leasehold land and bulldings
Long Leasehold land a nd buildings are accounted for at ori8inal Cost or subsequent
valuation ba515.
Tanglble Fixed Assets
These are office equiprnents Used by the company and accounted for at original cost
or sybseqLAent valuation basis.
Fixed Asset Investment
Thi5 IS the property situated at 48-50, Emperors Gate, South Kenslngton, London SW7
4HJ managed by the company with the view to generate Incorne, It alsD includes
the long term investment held with the CCIA Investment Management l.imited.
The Lon8 Leasehold la nd and buildin8 mentioned above15 Shown in these accounts at
valuation.
2.11 CAPITALISATION
All land and buildlng costs and other fixed assets in excess of £1,000 In the year
concerned are capitalised. Otherwise such costs are wrltten Off in the year of the
expenditure.
2.12 DEPRECIATION.
Depreciable Long Leasehold bulldln8 values are depreciated at a rate calculated to write
off the cost, less residual value over their expected useful Ilves.
No Depreciatlon Is provided on Long Leasehold land.
No Depreciation Is provlded on Investment properties
OTHER ACCOUNTING POLICIES
2.13 Funds
Unrestrlcted funds represent fund5 which are expendable at the discretion of the
company in the furtherance of its objects and which have not been deslgnated for other
purposes.
Restricted funds can only be used for specified purposes. The purpose of any restricted
fund is noted in the financial statements.
2.14 Golng Concern
At the time of approving the financial statements, the trustee5 have a reasonable
expectation that the Company has adequate resources to continue in operational
existence for the foreseeable f uture. Thus the trustee5 have therefore continued to
adopt the going concern basis in preparin8 the Company's financial statements.
page 13

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
I continued I
2.15 Taxation
In the opinion of the trustees. the Company is exempt from the U nited Kingdom
Taxation on its incoming re50LJrces for the year.
2116 Accounting estlmates and Judgements
In the 3pplication of the Company's accounting policles, the trustees are required to
make ludgements, estimate5, and assumptions about carrying amount of assets and
liabilities that are not readily apparent from other resources. The estlmates and
a550ciated assumptions a re based on historic experience and other factors that are
considered to be relevant, Artual results may differ from these estimates.
The estimate5 and underlylng assumptions are reviewed on an ongoing basis. Aevisions
to accountin8 e5timate5 a re recognised in the period In which the estlmate Is revised
where the revision affects only that period, or in the period of the revision and future
periods where the revlsion affects both current and future periods.
The most significant e5tlmates and 35SUrnPtlons which affect the carrying amount of
assets and liabilities In these account5 relate to
Useful Economlc Lives and Revaluation of Fixed Asset Investments.
2.17 Expendlture Apportloned Between Actlvltles.
Governance and Other Costs are apportioned between Activities { Charltable and
Expenditure to raise fu nds l on the basis of each activity's direct costs in the year in
relation to each other. This policy excludes any exceptional and non-recurring items.
page 14

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEfvIBER 2023
3 INCOMING RESOURCES
2 0 2 2
Unrestricted
Funds
Unreslricled
Funds
3.1 Investmenl Income
Renlal Income
Bank Interest Received
245.000
339
245,000
323
245,339
245,323
3.2 Other Income
Seryice Charges
86.199
63.458
4 RESOURCES EXPENDED
4.1 EXPENDITURE ON RAISING FUNDS
4.1.1
DIRECT SPENDING
Propertlos Repairs and Mainlenance
Property Insurance
Property Light and Heal
Property Cleaning
Accounlancycharges
51,513
18,177
28,035
7.930
1.000
106,655
26,850
16,980
22,334
7,800
750
74,714
4.1.2
GOVERANCE COSTS
Management Fees
Accountancy Charges
Audit Fees
Bank Charges
Sundrie$
7,734
1,301
1,230
26
6,000
960
1.050
30
8,040
4.1.3
SUMMARY OF EXPENDITURE ON RAISING FUNDS
Direct Spending
106.655
Support for fund rai5in8 activite5
Governance
74.714
8,040
116,955
4.2 EXPENDITURE ON CHARITABLE ACTIVITIES
4.2.1
DIRECT SPENDING
Grants and Donations
196 746
page 15

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL 5TATEMENT5 FOR THE YEAR ENDED 31, DECEMBER Z023
2 0 2 2
Unrestricted
Funés
Unrestricted
Funds
4.2.2
SUPPORT FOR CHARITABLE
ACTIVITIES
4.2.2.2 Governance costs
Managemant Fees
Audit Feas
AcccMJntancy Foe3
Bank Charges
Olhers
14,266
2,270
2,399
48
17
14,000
2,450
2,240
65
4.2.3
SUMMARY OF EXPENDITURE ON CHARITABLE ACTIVITIES
Dlrect Spending
196,746
425,446
Support for charitble attivites
Governance
00
5 REVALUATION GAINS/IDEFiaTI
5.1 Material Investment Holdings
6. GRANTS
6.1 ANALYSIS OF GRANTS PAID ( Included in the cost of Charitable Actlvities I
ANALY515
grants to grants to Support
instltutions Indlvlduals
Costs Total
Geiieidl Supyui I
196 746
196 746
6.2 GRANTS MADE TO INSTITUTIONS
NAME OF INSTITUTION
PURPOSE
St. Stephen'5 Church
In support of the church'5 mi55ion ind charltable
activities.
page 16

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD > LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
I continued I
7. FIXED ASSETS
7.1 FIXED ASSETS INVESTMENTS
COST OR VALUATION
Land and
Bulldings
Material
Investrnent
Holdings
TOTAL
Balance as at 1 January 2023
4,600,000
785,994 5,385,994
Revaluation Surplus
765
Balance as at 31, December 2023
600
5 484 759
The Long Leasehold property is situated at 48-50. Emperor's Gate, South Kensin8ton, London
SW7 4HJ. The Company holds a 999 years lease I from 31, December1999) from the Number 1 Trust
Fund on the above property. The property is stated at valuation in these financial statements.
The Investment property was professionally revalued at £4,600,000 by AMJ Wimbleton l FRICS I
of Aspect SuNeyors Limited on 26, May 2020 on a fair value basis. However, due to the unknown
future irnpact that Covid-19 might have on the real estate market, the valuation was reported on
the basis of "material valuation uncertainty In line with RICS 8uidance.
7.2 INCOME FROM MATERIAL INVESTMENT HOLDINGS
Market
value
at 31/1212023
Income for
the year.
Investment Property
Materlal Investment Holdings
TOTAL
4,600,000
884 759
5 484 759
245,000
The company holds "CBF Church of England Investment Fund - Accumulatlon Shares"
The trustees have advlsed that When the company invested in the CCLA, It had the option to
purchase either "accumulatlon" units or dividend bearing units. The company chose the
accumulation units. The company does not therefore receive dividends. It has never received
dividends.
7.3 MATERIAL INVESTMENT HOLDINGS
Investments in CBF Church of England Investment Fund
Investment held l units1
Market Value per share at 31, December 2023.
14 816.65
5 971.38
2022
Unrestricted
nce
2023
unrestricted
8. DEBTOR5
Prepaymonts
S8rvice Charge Debtor
Sundry Debtors
13,479
21,154
13,512
11,568
page 17

ST. STEPHEN'5 HOUSE { GLOUCESTER ROAD ) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
I continued I
9. BANK AND CASH BALANCES
2023
unrestricted
2022
unrestricted
CBF Deposit
CAF Current Account
100,000
175 360
C85h and cash equivalent Includ8s cash in hand, deF*Jsits held al ¢all with banks. other short-term
liquid investments with original maturlt18s of three months or less, and bank overdrafts. Bank
overdrafts are shown within borrowings in current liabilities.
10. CREDITOR5: Amounts falling due wlthln one year
2023
Unrestricted
2022
Unrestricted
VAT Liability
Sundry Creditors and Accruals
7,822
13,018
11 FUNDS
UNRESTRICTED FUNDS
2023
2022
Balance Brought Forward
5,562,138
Incoming Resources
331,538
Resources Expended
-332,701
Net Gain/ (Deficit) on Investments Revaluation
5.859,632
308,781
-526,955
Balance Carried Forward
5 659 739
5 562 138
Unrestricted funds represent funds which are expendable at the discretion of the
Company in the furtherance of its objects and which have not beers designated for
other purposes.
12 DETAILS OF CERTAIN ITEMS OF EXPENDITURE
2023
2022
Audit Fees
13 PAID EMPLOYEES
There were no employees during the year12022 - Nil )
14. POST BAIANCE SHEET EVENTS
The Trustee5 and Director5 are not aware of any p05t balance sheet event which could
materially affect these financial statements.
paEe 18

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2023
I continued I
15. RELATED PARTY TRANSAcfioNS
The trustees confirm that there were no related party trans8Ctions during the year.
16. RESERVE POLICY
The Trustees endeavour to maintain sufficient Reserve5 to ensure that the Charity is on a
"going concern" basi5 at all times.
Our reserves policy 15 to ensure sufficient resources to provide a 5UStainable platform
for future charitable grants over the longer term, as well as maintain its physical asset5
in good condition over the longer term.
The Board is aware that application for grants may vary from year to year, and
15 mindful of the need to provide a secure and consistent approach over the longer term. This
may entail runnin8 either a deficit or surplus in any one particular financial period, as necessary.
17 VOLUNTEER CONTRIBUTION
The charity Is reliant on volunteers who contrlbute thelr skills, time, money and their
resources in the furtherance of the work of the company. Prlncipally, this contribution Is bv
serving on committee5 of the Company that deal with finance, policy, grants, developments,
etc.
The contribution of volunteers is not included within the income of the Company.
The trustee5 are grateful to all of them for their help and commitment.
13. MEMBERS LIABILITIES.
Every member of the charity undertakes to contribute such amount as may be required I not
exceeding £10.00 I to the charity's assets If it should be wound up while he or she is a member or
within one year after he or she ceases to be a member, for payment of the charlty's debts and
liabilities contracted before he or she cease5 to be a member, and of the costs, charge5 and
expense5 of winding up, and for the 3dju5tment of the ri8hts of the contributories among
themselves.
19. FINANCIAL INSTRUMENTS
All the Charity's financial instruments qualify as basic flnancial instruments in accordance with
sectlOD 11 of FRS 102 and are recognised on the following basis .
il Cash and cash equivalent represent bank balances and deposits held in Sterling
ill Investments are measured at market value at the balance Sheet date
111) Debtors are measured at the transaction price less any provision for doubrful debts
iv) Creditors are measured at the transaction price.
page 19